After Covid crash, SPX is growing nicely following the black trendline in this chart.
There was 1st breakdown, but Bulls defended successfully with lots of volume, price recovered back to the Trendline with enough volume, and finally made higher high at 3990!!!
However, 2nd breakdown happened, breaking down triangle 2 days ago.
Now it just recovered back to the trendline and triangle but, volume was relatively smaller than 1st break down.
Plus, It is struggling at very strong resis. lv., 4hr bollinger band(stdev 1), showing hidden divergence in RSI, and upper line of previous triangle.
If it cannot breakup this level, it will collapse like above
There was 1st breakdown, but Bulls defended successfully with lots of volume, price recovered back to the Trendline with enough volume, and finally made higher high at 3990!!!
However, 2nd breakdown happened, breaking down triangle 2 days ago.
Now it just recovered back to the trendline and triangle but, volume was relatively smaller than 1st break down.
Plus, It is struggling at very strong resis. lv., 4hr bollinger band(stdev 1), showing hidden divergence in RSI, and upper line of previous triangle.
If it cannot breakup this level, it will collapse like above
Note
It is on WAR now, lets see who will win
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.